Italy nears decree on $216b in guarantees to companies

Bloomberg

Italy is finalising new measures aimed at providing liquidity to companies, Finance Minister Roberto Gualtieri said.
The government will guarantee loans of up to 800,000 euros at 100%, and will boost guarantees to 90% on another 200 billion euros ($216 billion) in loans, Gualtieri said in a televised comment on Rai TG1. Companies will be able to seek bank loans for as much as 25% of their revenue, and those new benefits could be combined with the other measures the government is studying to help Italian businesses.
Prime Minister Giuseppe Conte is working on a new decree to further boost liquidity for businesses, while another package later this month will include emergency income for people trapped in the so-called underground economy.
The government is deploying at least 25 billion euros in new economic aid after an initial stimulus package approved in March for the same amount. The Italian daily La Stampa said that the liquidity decree will be approved this week.

Milan Official Sees Italy Lockdown Lasting At Least Two More Weeks
Italy’s lockdown should be prolonged for at least another couple of weeks, Lombardy’s top health official said in a TV interview.
“Clearly, we cannot stay indoors for ever, but we believe that this sacrifice needs to be continued at least for another two to three weeks,” Giulio Gallera, top health official of the Lombardy region said on Canale 5. “Then, we we’ll have to use precautions — masks, or other facial protections — to avoid starting another round of outbreaks.”
Italy reported the lowest single-day coronavirus deaths in 2 1/2 weeks on Sunday, an early sign that weeks of strict confinement measures to contain the outbreak are finally starting to bear fruit. Italy remains on a strict lockdown, with the hard-hit Lombardy region, which has Milan as its capital, requiring since Sunday that citizens leaving their homes shield their mouths and noses with masks or other coverings.
The region has also asked residents to continue to remain inside for all but essential activities, after seeing an increase in people venturing outside in defiance of the quarantine. The region of Tuscany has followed suit with similar rules.